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... the ... investors are increasingly concerned about China with all the fault of anchor on a general stress credit markets ... of being bought a trial with the will Street tunnel and joining me today is a trooper sought from Cornell University ... longtime China watcher ... you sure you have maybe a slightly more sanguine view than what the general investing community has right now by China ... the Chinese government is trying to ... think that financial market position of the day objectives in mind ... but that of many lists of the shutdown because even in the process of trying to do that I can be quit stumble ... and that of any of this spending up in China in the financial system as the and elsewhere ... but I think they have the resources and the capacity to manage with a shrug though ... I was a vote and the not so much in the next two years beyond that ... this long-term question also raises questions about ... you know what to do but its capital account ... it's remained needed currency which is always sediments nationalized ... you've written a book recently about call The Dollar trap which looks at ... on matters of Brazil's currency so what is China standing trying to internationalize its currency ... China is making a significant others in terms of making its guidance in international patterns ... meaning a tendency that is used widely in Korea and financial transactions ... now make the cut its chances of that essay tend to lead a more open capital account ... the flexible exchange rate and people financial markets ... China is proceeding in the Titanic somebody is going to take away ... but the bigger question and you can level is whether the enemy will ever become a safe haven tendency ... for the playoffs head is probably not because that would mean not just financial markets in everything else but institutions the central bank legal framework that is independent ... and open and transparent democratic such an intent is not going to license to be clear to see driven currencies one whether when there's a financial crisis people Ashby rushed to it's ... the kind of currency to keep the money and ... that's exactly it's a place that people can get money for safety not been diversification audience right right I just reached which gives low but you've also been watching and writing off much India ... which investors are no more happy with this and they're more optimistic went ... up primarily because an election coming out what your thoughts and observations that ... India some of the fundamentals that said the shift in the Dietetics and inflationist anybody hybrid is coming down many eventually ... the current account deficit has come down quite sharply but to my blamed India Steve LinkedIn and all of call because that is that the Republican Central Bank of America ... that is supposed to give them a new government of the election so that you get a pharma's government protecting the fundamental seven shifted enough ... to justify this abandoned surge of optimism about India ... and what is this big fundamental problem is that bad ... people just aren't investing in big projects like roads power flaunts isn't a question of ... actual reform when it comes to taxation and regulation will what is the big problem ... it's a whole host of problems that basically comes of policy uncertainty ... and lack of political will to do what needs to be that ... the laundry list of waterfalls said India needs financial market development said more money to its infrastructure ... but the can for the fiscal situation also ... pretty clear what's needed is that with the and the ability to implement its own farms write the silver lining in an as of last year it's been a central bank governor ... superstar rather AMR Arjun who you know we should point out two of us is your one time writing partner to so that viewers can discounter bias ... ah but how hard you can use denying he's of been praised Whiteley of any criticisms that you are ... I think is doing a fantastic job in the eighteen fifty and that in its native any clear ... that what the financial market default and is a little financial inclusion ... that is the Bank of India can push forward with ... any social media fitting given that as the Bank of India is going to keep its eye and inflation ... suddenly leave the RBS unless inflation to get out of hand ... it loses its credibility and its effectiveness so give us a very difficult than button when I think is doing in each of the great Aussie sure we live in that ... movie but a trial with the Wall Street John ...